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Southwestern Historical Quarterly

the highly popular cartoon booklet on Texas history. This grant wasgiven to the General Fund and sales from the booklet go into thatFund.Over the years the Publications Fund has accumulated income abovewhat has been expended each year for book publications. The moneyhas been invested wisely so as to enable the Association to provide forpublishing Texana in the future. This policy permitted the Associationto underwrite the printing costs of the recently published third volumeof the Handbook of Texas. The disbursements in the last fiscal year onprinting costs alone for the Handbook amounted to $92,053.84. Thefinal payment on the Handbook, $9,763.78, was made in the currentfiscal year.From time to time upon viewing the Association's financial state-ments someone has remarked that the Association is a wealthy organi-zation because it has assets of around $360,000. Actually, that sum is avery small publications endowment in terms of today's costs and needs.The endowment brought.in $24,778.98 in income last year. Thus, theAssociation could not have managed its affairs on the scale that itoperates without the generous and much appreciated support of theUniversity of Texas at Austin.The University's budget for the fiscal year ending August 31, 1977,included about $96,ooo for the Department of Research in Texas His-tory down from $103,000 the previous year. The Department of Re-search in Texas History funds the salaries of most staff members whorun the Association on a day-to-day basis. This includes editorial sal-aries, bookkeeping and secretarial salaries, and administrative salaries.If the Association had to rely entirely upon its own income, it wouldonly be able to publish the Quarterly and hold an annual meeting. Thebudget of the Department of Research in Texas History enables boththe University and the Association to provide important public servicesto the people of Texas through active and effective programs relatingto Texas history.The current budget for the Department of Research in Texas His-tory is about $85,ooo. The drops have come as a result of legislative cutsin the University's overall programs of Organized Research. The Asso-ciation's budget from its own funds for the current fiscal year will runaround $ oo,ooo.Indications are that most members have understandingly acceptedthe recent increase in dues. For this we are grateful. All members maybe assured that whatever funds accrue to the Association will be spent